Oakmont Partners LLC bought a new position in shares of Visa Inc (NYSE:V) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,801 shares of the credit-card processor’s stock, valued at approximately $319,000.
Other large investors have also modified their holdings of the company. BLB&B Advisors LLC grew its position in shares of Visa by 4.2% during the fourth quarter. BLB&B Advisors LLC now owns 53,564 shares of the credit-card processor’s stock worth $6,107,000 after acquiring an additional 2,166 shares during the last quarter. Inspirion Wealth Advisors LLC bought a new position in shares of Visa during the fourth quarter worth about $241,000. Cottage Street Advisors LLC grew its position in shares of Visa by 1.9% during the fourth quarter. Cottage Street Advisors LLC now owns 28,948 shares of the credit-card processor’s stock worth $3,301,000 after acquiring an additional 550 shares during the last quarter. Gofen & Glossberg LLC IL grew its position in shares of Visa by 77.1% during the fourth quarter. Gofen & Glossberg LLC IL now owns 11,192 shares of the credit-card processor’s stock worth $1,276,000 after acquiring an additional 4,872 shares during the last quarter. Finally, Pennsylvania Trust Co grew its position in shares of Visa by 1.7% during the fourth quarter. Pennsylvania Trust Co now owns 258,908 shares of the credit-card processor’s stock worth $29,521,000 after acquiring an additional 4,364 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.
Visa Inc (V) opened at $124.51 on Friday. Visa Inc has a 12-month low of $87.85 and a 12-month high of $126.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $286,270.00, a PE ratio of 48.83, a PEG ratio of 1.62 and a beta of 1.00.
Visa announced that its board has approved a share repurchase plan on Thursday, February 1st that permits the company to buyback $7.50 billion in shares. This buyback authorization permits the credit-card processor to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.67%. Visa’s dividend payout ratio is currently 32.94%.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the sale, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. Insiders have sold 57,634 shares of company stock valued at $6,562,157 over the last ninety days. Insiders own 0.14% of the company’s stock.
V has been the subject of several recent research reports. Susquehanna Bancshares upped their price target on shares of Visa from $126.00 to $148.00 in a research report on Thursday, December 28th. Cowen restated a “buy” rating and set a $129.00 price target on shares of Visa in a research report on Friday, January 12th. Citigroup restated a “buy” rating and set a $136.00 price target (up previously from $124.00) on shares of Visa in a research report on Friday, January 12th. Stephens reiterated a “buy” rating and issued a $135.00 target price on shares of Visa in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $141.00 target price on shares of Visa in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. Visa presently has an average rating of “Buy” and a consensus price target of $134.14.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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